Recapping the day's news and newsmakers through the lens of CNBC.
Syrian market shocks
War typically roils the markets, but what will happen if the U.S. and other countries bomb Syria? In the least, retaliation over poison gas attacks could affect the oil market. Syria is not a major producer, but some of its neighbors are, and Western involvement could trigger social disruption that could affect supplies. Oil settled above $109 a barrel, from below $100 at the start of July.
Trouble in Syria adds to a laundry list of problems the stock market faces as summer fades into September, and it's looking like investor sentiment could transform from full throttle risk-on to a skittish environment where even the bulls are getting antsy.
"Should tensions spread to other countries in the region, we are definitely likely to see prices climb towards $120."
—Eugen Weinberg, Commerzbank
"Right now it's being introduced to the public as a surgical strike—in and out, antiseptic and not spreading. One would argue that the market is buying into that. We don't see a market that's collapsing."
—Quincy Krosby, chief market strategist at Prudential Annuities